Global Prefabricated Housing Market to Reach 757 Thousand Units by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on prefabricated housing markets. The global market for prefabricated housing is forecast to reach 757 thousand units by the year 2015. Government regulations, promotional projects, climatic conditions, and technological advances are the key factors driving growth in the market. Other growth drivers include increasing consumer awareness, and manufacturers response to consumer needs.

Prefabricated Housing: A Global Strategic Business Report

San Jose, CA (Vocus/PRWEB)January 18, 2011

Global prefabricated housing market had registered a moderate to flat growth during the period 2004 to 2007. The market witnessed a further blow in 2008 and 2009 due to the economic recession. However, the market is on the verge of recovery with demand gaining momentum, although at a slower pace. Overproduction, significant losses in the industry and poor underwriting resulted in decline in the shipments of manufactured homes over the past few years. Further, the comparatively low resale value associated with this type of homes was also a matter of concern. Recession further affected the manufactured housing segment. Nevertheless, with increasing efforts towards the improvement in quality, durability, and cost efficiency of manufactured homes, demand for these types of homes is likely to go up in the coming years. Recovery in demand could be attributed to factors such as growing adaptability of manufacturers to consumers needs in terms of cost efficiency, eco-friendliness, energy efficiency, and customization. In addition, increasing awareness among customers about prefabricated houses is also likely to drive further market growth.

Affordability and optimization of housing requirements within available spatial constraints are the primary factors that are rendering factory-made duplex houses increasingly suitable for the first-time homebuyers with moderate-income levels in the US. Although the conventional construction modes continue to dominate the prefabricated construction industry, there is a growing market for houses built using ecological building materials or houses equipped with ecological installations. Housing industry in the UK and US is undergoing a drastic makeover with the launch of Systems-built homes. The demerits associated with traditional house building techniques such as escalating construction costs, delays in scheduled delivery, shortage of skilled labor and adverse effects of climatic factors on the construction timing, are more likely to cause a shift in the consumer preference from traditional housing to factory fabricated homes. System-Built Homes availability in a wide array of designs, from single to multi-storied apartments with customizable furnishings and components, can be cited as a major reason for the growing market acceptance in the US and UK.

The US represents the largest regional market for prefabricated housing worldwide, as stated by the new market research report on Prefabricated Housing. Japan remains the second largest market for pre-fabricated housing worldwide. However, future growth in the market is expected to emanate from emerging markets such as Asia-Pacific and Latin America. Segment-wise, Manufactured Homes represents the largest segment, while Panelized Homes constitutes the fastest growing segment.

Innovation is the order of the day in the factory-built home market. Manufactured homes are increasingly progressing towards built-in solar powered modules. For instance, the US Department of Energy led photovoltaic application development program – ‘Building Opportunities in the United States for Photovoltaics (PV: BONUS)’, underscored the commercial opportunities for the solar power in this sector. The modular homes jointly built by Fully Independent Residential Solar Technology, (FIRST) Inc. and other project mates featured a roof-mounted stand-alone and/or standby grid-connected 2-kilowatt photovoltaic systems that are designed to suffice the entire energy associated requirements of various housing appliances such as refrigerators, dishwashers, washing machines and fluorescent lighting units. In addition, mounting environmental concerns, poor wood quality, varying demographic patterns, increasing demand for unobtrusive, flexible and speedy construction processes, energy and material usage constraints led to the quest for alternative materials for fabricating durable residences. As a result, European markets are progressively adopting steel frames in prefabricated housing constructions.

The research report titled “Prefabricated Housing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the prefabricated housing markets, impact of the recession on the market, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for prefabricated housing market for the years 2007 through 2015 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America. Key product segments analyzed in the report include Manufactured Homes, Panelized Homes, Modular Homes, and Precut Homes. Also, a six-year (2001-2006) historic analysis is provided for additional perspective.

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.